RBI Comes Up With Financial Inclusion Index

Reserve Bank of India has created a composite Financial Inclusion Index, which will gauge the reach of financial inclusion in the country.

The Reserve Bank of India (RBI) has created a composite Financial Inclusion Index (FI-Index), which will gauge the reach of financial inclusion in the country, incorporating details of banking, investments, insurance, postal and the pension sector. Views of the government and the concerned regulators of these sectors have also been incorporated while preparing the index. The central bank had announced the creation of the index in its "Statement on Developmental and Regulatory Policies in the First Bi-monthly Monetary Policy Statement for 2021-2022", which had come out on April 7, 2021. The annual FI-Index for the period ending March 2021 is 53.9 as against 43.4 for the period ending March 2017. The FI-Index will be published annually in July every year. Some of the key aspects of the FI-Index are as follows: